HyperLight secures $37M funding to boost photonic technology

HyperLight Corporation has secured a $37 million Series B investment led by Summit Partners, with participation from existing investors Xora Innovation and Foothill Ventures. This funding aims to enhance the development of thin film lithium niobate (TFLN) photonic integrated circuits (PICs), which are crucial for meeting the increasing demand for bandwidth and energy efficiency in various sectors, including telecommunications and high-performance computing. The investment comes at a time when the industry is transitioning to next-generation photonics technology, driven by the growing needs of AI and data centers. Current PICs face performance limitations that hinder optical communication, making HyperLight's TFLN PICs a promising solution due to their superior bandwidth and energy efficiency. Peter Chung, Managing Director and CEO of Summit Partners, will join HyperLight's Board of Directors, reflecting the confidence in HyperLight's potential as a leader in the photonics market. The company has demonstrated a strong track record in innovation and execution, evolving its technology into market-ready products with a reliable supply chain. Mian Zhang, President and CEO of HyperLight, expressed enthusiasm about the partnership with Summit Partners, highlighting their extensive experience in the photonics industry. This funding round is expected to significantly bolster HyperLight's capabilities to meet current and future customer needs, positioning the company as a trusted innovation partner in the rapidly evolving photonics landscape.